""I know it's tempting to write the bubble story," Mr Altman told me as he sat flanked by his top lieutenants. "In fact, there are many parts of AI that I think are kind of bubbly right now.""
"Mr Altman said he expected investors would make some bad calls and silly start-ups would walk away with crazy money. But with OpenAI, he told me, "there's something real happening here"."
""the level of uncertainty should be higher in most people's minds""
""When [the bubble] breaks, it's going to be really bad, and not just for people in AI," he said. "It's going to drag down the rest of the economy.""
Senior AI leadership acknowledged that many parts of the AI sector appear bubbly while asserting that core technological advances are real and substantial. Investors are deploying large sums, and some capital flows may reflect financial engineering that inflates valuations beyond fundamentals. Central banks, international financial institutions, and major banking executives have warned of heightened uncertainty and bubble risk. Experienced entrepreneurs warn that a sectoral collapse could inflict widespread economic pain given the scale of investment. Observers expect some poor investment choices and speculative start-ups to capture outsized proceeds even amid genuine technological progress.
Read at www.bbc.com
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